Robert Kraft is leaving his position as president of Fox Music to create a new venture to develop musical films and television shows.

Kraft has been the chief executive of Fox Music since 1994, becoming president in 1998.  He supervised the music for all  the studio’s films, including “Titanic,” “Waiting to Exhale,” “Moulin Rouge,” “Slumdog Millionaire” and “Rio.”

He also supervised the music for Twentieth Century Fox Television hits such as “Ally McBeal,” “The X-Files,” “24” and “The Simpsons.”

“I’m very proud of what Fox Music has accomplished during my tenure, and I know the division will continue to inspire both music and film audiences for a long time to come,” Kraft said in a statement. “I am excited about the opportunity to develop my own musical films and TV shows.”

During Kraft’s tenure, Fox Music received 10 Academy Award nominations, winning four times; 61 Emmy nominations with 11 wins; and 49 Grammy nominations with 14 wins.

A composer, producer and performer whose recording career began in the 1970s with his band the Ivory Coast, Kraft’s breakthrough in film music came when he co-produced the soundtrack to “The Little Mermaid” and its Oscar-winning song “Under the Sea.”  In 1992, Kraft was nominated for an Oscar, a Grammy and a Golden Globe for co-writing “Beautiful Maria of My Soul” for “The Mambo Kings.” [Billboard.biz]